Germany FinTech company, Bitwala, will hold a "first of its kind" Equity Token Generation (ETG) Event, aiming to build a blockchain bank with decentralized ownership.
According to the press release, in the Bitwala ICO, the tokens will represent equity in the company, meaning that token owners will own part of the new business.
The new blockchain bank will be a crypto-first, government-recognized company that will empower customers to interact with the crypto economy in a secure, frictionless and compliant way.
The ETG is scheduled to happen towards the end of this year.
The team behind Bitwala carries lots of expertise in banking, blockchain, and entrepreneurship.
Dr. Ricardo Schaefer, early Bitwala investor, and former Merrill Lynch investment banker commented:
"Blockchain has the potential to fundamentally change how we exchange financial value in an increasingly global marketplace."
“Bitwala’s ambition to create a borderless banking solution that operates in harmony with current financial systems and regulations is truly game-changing. We are excited to join them on this journey, and look forward to celebrating imminent milestones with them,” Schaefer continued.
Read more about the new Bitwala project and the relevant whitepaper at https://vision.bitwala.com/.